May 29 (SeeNews) - Bulgaria’s MFG Invest [BUL:MFG] said that its management will propose to shareholders to approve a decision to skip a dividend payout for 2022.
The company will propose that 1.1 million levs ($602,490/562,421 euro) of its net profit for 2022, which amounted to a total of 10.62 million levs, is allocated to reserves, MFG Invest said in a bourse filing on Friday. The remaining sum of 9.52 million levs would be kept as undistributed profit.
Shareholders in MFG Invest will vote on the proposal at a general meeting scheduled for July 3, the filing showed.
Last week, the Bulgarian investment firm announced that it injected 100,000 euro ($108,221) in local entertainment company Forge Interactive as part of a 200,000 euro funding round. MFG Invest, which went public in December, has a portfolio which also includes Bulgarian-English healthtech startup FindMeCure, Bulgarian hydrogen electrolyser systems manufacturer Hydrogenera, formerly Green Innovation, and local data storing systems developer Tiger Technology.
(1 euro = 1.95583 levs)